Bedroom Furniture - South Korea

South Korea

In South Korea, the revenue in the Bedroom Furniture market reaches €1,456.00m in 2024.
Looking ahead, the market is projected to experience an annual growth rate of 3.14% (CAGR 2024-2029).
When comparing globally, in the United States generates the highest revenue in this segment, amounting to €38,040m in 2024.
In terms of per capita figures, the revenue generated per person in South Korea is €28.14 in 2024.
"South Korea's bedroom furniture market is experiencing a shift towards minimalist designs and multifunctional pieces to optimize small living spaces."

Key regions: Denmark, Germany, China, United States, Worldwide

Definition:

The Bedroom Furniture segment refers to those movable objects that are designed to be used in a bedroom, which is typically a space used for sleeping, dressing, and storage. It includes items such as beds, dressers, nightstands, and wardrobes, which are intended to make the room comfortable, functional, and aesthetically pleasing.

Structure:

The Bedroom Furniture segment is divided into four subsegments:

The Beds subsegment refers to furniture designed primarily for sleeping, which typically consist of a frame and mattress. This subsegment focuses on the frame and covers additional elements such as headboards, footboards, or storage drawers.
The Mattress subsegment refers to the long rectangular pad that is placed on top of a bed frame and is used to provide a comfortable sleeping surface. Mattresses come in a wide variety of sizes, from twin to king, and levels of firmness to suit individual preferences.
The Closets, Nightstands, & Dressers subsegment includes a range of storage furniture designed for bedrooms. These pieces are used to store and organize clothing, linens, and personal items, providing both functional and aesthetic value to the space.
The Bedding subsegment refers to products designed to enhance the comfort and functionality of a bed, including sheets, blankets, comforters, pillows, and mattress toppers. These products are available in a range of materials, styles, and sizes to suit individual preferences and needs.

Additional Information:

The Bedroom Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Bedroom Furniture market in South Korea has been experiencing significant growth in recent years. Customer preferences for bedroom furniture have been shifting towards more modern and minimalist designs. This trend is driven by a desire for simplicity and functionality in the bedroom, as well as a growing interest in interior design. South Korean consumers are increasingly seeking bedroom furniture that is both aesthetically pleasing and practical. They are looking for furniture that can maximize the use of limited space in their bedrooms, while also providing storage solutions. As a result, there is a growing demand for multi-functional furniture pieces such as beds with built-in storage compartments or wardrobes with sliding doors. Another customer preference that is driving the growth of the bedroom furniture market in South Korea is a focus on sustainability. Consumers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking furniture made from eco-friendly materials. This has led to an increase in the availability of bedroom furniture made from sustainable materials such as bamboo or recycled wood. In addition to these

Customer preferences: there are several trends in the market that are contributing to its growth. One such trend is the increasing popularity of online shopping for furniture. South Korean consumers are increasingly turning to online retailers to purchase bedroom furniture, as it offers convenience and a wider selection of products. This trend has been further accelerated by the covid-19 pandemic, which has led to an increase in online shopping across all industries. Another trend in the bedroom furniture market in South Korea is the rise of smart furniture. With the advancement of technology, consumers are now able to control various aspects of their bedroom furniture, such as lighting and temperature, through their smartphones or other smart devices. This trend is particularly appealing to tech-savvy consumers who value convenience and automation in their daily lives. Local special circumstances in South Korea also contribute to the growth of the bedroom furniture market. South Korea has a high population density, which means that many people live in small apartments or houses with limited space. This has led to a demand for compact and space-saving bedroom furniture that can fit into small rooms without compromising on style or functionality. Underlying macroeconomic factors, such as a strong economy and rising disposable incomes, have also contributed to the growth of the bedroom furniture market in South Korea. As the economy has grown, consumers have more purchasing power and are willing to invest in high-quality bedroom furniture that meets their preferences and needs. Overall, the Bedroom Furniture market in South Korea is developing in response to changing customer preferences, emerging trends,

Local special circumstances: and

Underlying macroeconomic factors:. As consumers continue to prioritize functionality, sustainability, and convenience, the market is expected to continue its growth trajectory in the coming years.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.